Disney Results Presentation Deck
Reconciliation of Diluted EPS Excluding Certain Items for Q4
(In Millions except EPS)
The following table reconciles reported diluted EPS from continuing operations to diluted EPS excluding certain items for the fourth quarter:
Pre-Tax
Income/ Loss
Tax Benefit/
Expense
After-Tax
Income/Loss
Change vs. prior
year period
Quarter Ended September 30, 2023
As reported
Exclude:
(4)
Restructuring and impairment charges
Amortization of TFCF and Hulu intangible assets and fair
value step-up on film and television costs
(5)
Excluding certain items
Quarter Ended October 1, 2022
As reported
Exclude:
Amortization of TFCF and Hulu intangible assets and fair
value step-up on film and television costs
(6)
(5)
Other income, net
Excluding certain items
$1,007
965
429
$2,401
$376
579
(63)
$892
($313)
(57)
(100)
($470)
($122)
(136)
15
($243)
(2)
$694
908
329
$1,931
$254
443
(48)
$649
Diluted EPS (3)
$0.14
0.50
0.18
$0.82
$0.09
0.24
(0.03)
$0.30
56%
>100%
(1) Tax benefit/expense is determined using the tax rate applicable to the individual item.
(2) Before noncontrolling interest share.
(3) Net of noncontrolling interest share, where applicable. Total may not equal the sum of the column due to rounding.
(4) Charges for the current quarter were related to impairments on goodwill ($721 million) and an equity investment ($141 million), content impairments ($137 million) due to the termination of an agreement with A+E and severance costs ($22 million), net of
the A+E gain ($56 million)
(5)
For the current quarter, intangible asset amortization was $361 million, step-up amortization was $65 million and amortization of intangible assets related to TFCF equity investees was $3 million. For the prior-year quarter, intangible asset amortization was
$415 million, step-up amortization was $161 million and amortization of intangible assets related to TFCF equity investees was $3 million.
(6)
In the prior-year quarter, other income, net was due to a DraftKings gain ($63 million).
ⒸDisney
Fourth Fiscal Quarter Ended September 30, 2023
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